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Report Date : |
17.01.2014 |
IDENTIFICATION DETAILS
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Name : |
THERMAL SYSTEMS GMBH |
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Formerly Known as: |
Fortuna Boiler
Engineers GmbH |
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Registered Office : |
Ludwig-Erhard-Str.
8, D 34131 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
11.08.2004 |
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Com. Reg. No.: |
HRB 13556 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Wholesaler of iron ores, iron, steel and iron and steel semi-finished goods Engineering activities in the field of technical sectoral
planning and engineering design |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GermanY ECONOMIC OVERVIEW
The German
economy - the fifth largest economy in the world in PPP terms and Europe's largest
- is a leading exporter of machinery, vehicles, chemicals, and household
equipment and benefits from a highly skilled labor force. Like its Western
European neighbors, Germany faces significant demographic challenges to
sustained long-term growth. Low fertility rates and declining net immigration
are increasing pressure on the country's social welfare system and necessitate
structural reforms. Reforms launched by the government of Chancellor Gerhard
SCHROEDER (1998-2005), deemed necessary to address chronically high
unemployment and low average growth, contributed to strong growth in 2006 and
2007 and falling unemployment. These advances, as well as a government
subsidized, reduced working hour scheme, help explain the relatively modest
increase in unemployment during the 2008-09 recession - the deepest since World
War II - and its decrease to 6.5% in 2012. GDP contracted 5.1% in 2009 but grew
by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a
reflection of low investment spending due to crisis-induced uncertainty and the
decreased demand for German exports from recession-stricken periphery
countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and
tax cuts introduced in Chancellor Angela MERKEL's second term increased
Germany's total budget deficit - including federal, state, and municipal - to
4.1% in 2010, but slower spending and higher tax revenues reduced the deficit
to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. A
constitutional amendment approved in 2009 limits the federal government to
structural deficits of no more than 0.35% of GDP per annum as of 2016 though
the target was already reached in 2012. By 2014, the federal government wants
to balance its budget. Following the March 2011 Fukushima nuclear disaster,
Chancellor Angela Merkel announced in May 2011 that eight of the country's 17
nuclear reactors would be shut down immediately and the remaining plants would
close by 2022. Germany hopes to replace nuclear power with renewable energy.
Before the shutdown of the eight reactors, Germany relied on nuclear power for
23% of its electricity generating capacity and 46% of its base-load electricity
production
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Source : CIA |
Thermal Systems GmbH
Ludwig-Erhard-Str.
8
D 34131 Kassel
Telephone:0561/8043891
active
DE238335521
026 246 15509
LEGAL FORM Private
limited company
Date of foundation: 11.08.2004
Shareholders'
agreement: 11.08.2004
Registered on: 21.10.2004
Commercial Register: Local court 34117 Kassel
under: HRB
13556
Share capital: EUR 25,000.00
Thermal Systems
(Hyderabad)
500 Jeedimetha, Plot
No. 1
IND 13404 Apuroopa
Legal form: Other
legal form
Share: EUR 18,500.00
Shareholder:
Matthias Brandau
Wilhelm-Busch-Weg 10
D 34292 Ahnatal
born: 03.10.1965
Share: EUR 6,500.00
Matthias Brandau
Wilhelm-Busch-Weg
10
D 34292 Ahnatal
having sole power
of representation
born: 03.10.1965
Marital status:
unknown
21.10.2004 - 07.04.2011 Fortuna Boiler Engineers GmbH
Ludwig-Erhard-Str. 8
D 34131 Kassel
Private limited
company
Main industrial sector
46721
Wholesale of iron ores, iron, steel and iron and steel semi-finished
goods
71122
Engineering activities in the field of technical sectoral planning and
engineering design
Payment experience: within periods customary in this trade
Negative information: We have no negative information at hand.
Balance sheet year: 2012/2013
The depth of balance sheet suggests that the company, as a
so-called micro-entity in accordance with art. 267a German
Commercial Code, has availed itself of the facilitations of the
German Micro-Entities Amending Account Law (MicBilG) This is why
it is possible that the resultant reduction of the depth of
presentation in the annual accounts may entail deviating
calculation methods of the respective balance sheet ratios and
thus to an altered Solvency Rating [NG] and/or balance sheet
grade.
Type of ownership: Tenant
Address Ludwig-Erhard-Str.
8
D 34131 Kassel
Real Estate of: Matthias
Brandau
Type of ownership: Tenant
Address Wilhelm-Busch-Weg
10
D 34292 Ahnatal
Land register documents were not available.
KASSELER SPARKASSE, KASSEL, HESS
Sort. code: 52050353, BIC: HELADEF1KAS
Turnover:
2012 *EUR 212,500.00
Liabilities: EUR 7,152.00
Employees:
1
The business figures marked with an asterisk are
estimates based on average values in the line of business.
Balance sheet ratios 01.04.2012 - 31.03.2013 (1)
Equity ratio [%]: 82.19
Liquidity ratio: 6.99
Return on total capital [%]: 4.85
Balance sheet ratios 01.04.2011 - 31.03.2012
Equity ratio [%]: 79.48
Liquidity ratio: 10.00
Return on total capital [%]: 7.09
Balance sheet ratios 01.04.2010 - 31.03.2011
Equity ratio [%]: 64.41
Liquidity ratio: 10.00
Return on total capital [%]: 15.34
Balance sheet ratios 01.04.2009 - 31.03.2010
Equity ratio [%]: 70.70
Liquidity ratio: 10.00
Return on total capital [%]: -198.36
(1) The depth of balance sheet suggests that the company, as a
so-called micro-entity in accordance with art. 267a German
Commercial Code, has availed itself of the facilitations of the
German Micro-Entities Amending Account Law (MicBilG) This is why
it is possible that the resultant reduction of the depth of
presentation in the annual accounts may entail deviating
calculation methods of the respective balance sheet ratios and
thus to an altered Solvency Rating [NG] and/or balance sheet
grade.
Equity ratio
The equity ratio indicates the portion of the
equity as compared
to the total capital. The higher the equity
ratio, the better the
economic stability (solvency) and thus the
financial autonomy of
a company.
Liquidity ratio
The liquidity ratio shows the proportion
between adjusted
receivables and net liabilities. The higher
the ratio, the lower
the company's financial dependancy from
external creditors.
Return on total capital
The return on total capital shows the
efficiency and return on
the total capital employed in the company. The
higher the return
on total capital, the more economically does
the company work
with the invested capital.
Type of balance
sheet: micro balance sheet
Financial
year: 01.04.2012 - 31.03.2013 (2)
ASSETS EUR 69,876.02
Fixed assets EUR 7,155.00
Current assets EUR 55,318.07
Remaining other assets EUR 7,402.95
Accruals (assets) EUR 7,402.95
LIABILITIES EUR 69,876.02
Shareholders' equity EUR 58,375.96
Provisions EUR 4,348.00
Liabilities EUR 7,152.06
Type of balance
sheet: Company balance sheet
Financial
year: 01.04.2011 - 31.03.2012
ASSETS EUR 68,452.31
Fixed assets EUR 10,153.00
Intangible assets EUR 5,510.00
Other / unspecified intangible
assetsEUR 5,510.00
Tangible assets EUR 4,643.00
Other
/ unspecified tangible assets EUR 4,643.00
Current assets EUR 47,952.06
Accounts receivable EUR 2,862.14
Other debtors and assets EUR 2,862.14
Liquid means EUR 45,089.92
Remaining other assets EUR 10,347.25
Accruals (assets) EUR 10,347.25
LIABILITIES EUR 68,452.31
Shareholders' equity EUR 55,242.10
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Balance sheet profit/loss (+/-) EUR 30,242.10
Profit / loss brought forward EUR 25,676.15
Annual surplus / annual deficit EUR 4,565.95
Provisions EUR 9,040.00
Liabilities EUR 4,170.21
Other liabilities EUR 4,170.21
Unspecified other liabilities EUR 4,170.21
(2) The abbreviated
depth of presentation of the annual accounts
may be atributed to
application of regulations within the German
Micro-Entities
Amending Accounting Law.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.53 |
|
|
1 |
Rs.100.73 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.